An Act To Clarify The Law Governing The Minimum Indirect Financial Interest Disclosure Requirement For Liquor Licenses

This bill clarifies the disclosure requirement for applicants seeking liquor licenses or certificates of approval in Maine. It requires applicants to disclose any person with an indirect financial interest of 10% or greater in the applicant. The bill defines "indirect financial interest" to include options to acquire equity (such as stock warrants) or rights to payments based on business profits, revenues, or losses (like profit sharing or royalties). This change applies to all liquor license applications under Maine law, ensuring clear identification of significant financial ties.